If you have money, now is the time for the best deals!

"Buy smart... and at the lowest prices," has been Warren Buffett's constant advice to investors, since he became one of the world's richest men, investing in undervalued companies in periods of major declines on financial markets. Now is the time for strategic and highly sophisticated investors, not for speculators, said investment bankers, while local business people seem to be following Buffett's example.

Dinu Patriciu, one of the richest Romanians and CEO of the Rompetrol Group, announced that he has benefited from the international financial crisis and has invested "hundreds of millions of dollars" in acquisitions in IT, media, alternative energies, and Real estate, and will continue this process of acquiring assets.

"I made direct investments in these areas, and also have portfolio investments in hedge funds, commodities, etc. I will also make acquisitions in media and the internet. I do not believe in the future of television. Adevarul Holding will continue acquisitions outside Romania in the written press," Patriciu said yesterday in Almati, Kazakhstan. He added that "this financial crisis is deepening and there are opportunities for acquisitions." Asked if he would acquire a bank, the businessman responded that he will respond in one month, because he is expecting the effects of the crisis to worsen.

Business Standard